QUESTION 10 Birch Corporation, a multi-divisional firm funded by 100% equity, is considering the following two independent projects. The risk-free rate is 3%, and the expected return on the market is 9%. The company's overall cost of capital is 10%. The two projects are: (1) Project X in a low risk division has an equity beta of 0.7 and an expected IRR of 8.8% (ii) Project Y in a high risk division has an equity beta of 1.2 and an expected IRR of 11.4%. Which project should be accepted? O A. Only X should be accepted B. Only Y should be accepted OC. Both projects should be accepted O D. Neither project should be accepted